光明乳业资产负债表分析

1、2012年与2013年资产负债表水平分析单位：元项目2012 年 12月31日2013年12月31日变动情况对总额的影响变动额变动率流动资产：货币资金2,339,384,02,600,367,23260,983,19511.16%2.79%383交易性金融资产11,781,41618,537,9596,756,54357.35%0.07%应收票据1,511,2782,678,3071,167,02977.22%0.01%应收账款1,310,077,01,386,392,9476,315,8595.83%0.82%821预付款项225,373,435603,372,752377,999,3171

2、67.724.05%其他应收款58,358,60979,125,09120,766,48235.58%0.22%存货1,015,752,11,500,786,97485,034,80147.75%5.19%789其他流动资产0219,829,683219,829,6832.35%流动资产合计4,962,238,06,411,090,941,448,852,9029.20%15.51%3659非流动资产：可供出售金融资00000.00%长期应收款1,523,9391,223,939-300,000-19.690.00%长期股权投资30,213,98018,719,300-11,494,680-3

3、8.04%-0.12%固定资产2,681,667,33,371,200,19689,532,85025.71%7.38%499在建工程709,740,369672,880,766-36,859,603)-5.19%-0.39%生产性生物资产142,171,709205,140,80362,969,09444.29%0.67%无形资产280,102,296281,590,5051,488,2090.53%0.02%商誉258,884,662258,884,66200.00%0.00%长期待摊费用03,286,5203,286,5200.04%递延所得税资产272,757,236344,034,5

4、4571,277,30926.13%0.76%其他非流动资产0000.00%非流动资产合计4,377,061,55,156,961,23779,899,69917.82%8.35%409资产总计9,339,299,511,568,052,1-7,771,247,3-83.21-83.21%768492%流动负债：短期借款793,362,976949,638,200156,275,22419.70%1.67%以公允价值加量0000.00%的金融负债交易性金融负债17,340,1574,036,740-13,303,417-76.72-0.14%应付账款1,378,858,71,998,690,1

5、8619,831,41044.95%6.64%711预收款项335,197,904748,733,090413,535,186123.374.43%应付职工薪酬152,544,591183,033,04130,488,45019.99%0.33%应交税费111,924,439288,613,574176,689,135157.861.89%应付利息3,020,2713,531,167510,89616.92%0.01%其他应付款1,037,183,51,508,636,60471,453,01945.46%5.05%843一年内到期的非130,380,216263,143,133132,762

6、,917101.831.42%流动负债%流动负债合计3,959,812,95,948,055,721,988,242,8250.21%21.29%0990非流动负债：长期借款708,489,280336,347,214-372,142,066-52.53-3.98%长期应付款10,671,7381,022,500-9,649,238-90.42-0.10%专项应付款25,732,0016,677,119-19,054,882-74.05-0.20%递延收益0000.00%递延所得税负债64,061,75097,777,84633,716,09652.63%0.36%其他非流动负债145,866

7、,672154,384,8928,518,2205.84%0.09%非流动负债合计954,821,441596,209,571-358,611,870-37.56-3.84%负债合计4,914,634,36,544,265,301,629,630,9533.16%17.45%5000所有者权益（或股东权益）股本1,225,038,61,224,497,45-541,198-0.04%-0.01%579资本公积1,676,837,01,756,143,9679,306,8764.73%0.85%884减：库存股0000.00%其他综合收益0000.00%盈余公积321,367,710364,26

8、8,74842,901,03813.35%0.46%未分配利润777,411,110920,122,969142,711,85918.36%1.53%外币报表折算差13,190,93013,079,702-111,228-0.84%0.00%额归属于母公司所4,013,845,44,278,112,84264,267,3476.58%2.83%有者权益合计952少数股东权益410,819,731745,674,042334,854,31181.51%3.59%所有者权益合计4,424,665,25,023,786,88599,121,65813.54%6.42%264负债和所有者权9,339,

9、299,511,568,052,12,228,752,6023.86%23.86%益总计76848根据上表，可以对光明乳业公司总资产变动情况作出以下分析评价:该公司总资产本期增加222875万元，增长幅度为23.86%，说明光明乳业公司本年资产规模有较大幅度增长。进一步可以发现:(1 )流动资产本期增加144885万元，增长幅度为29.20%，使总资产规模增长了15.51%。非流动资产本期增加了77990万元，增长的幅度为17.82%，使总资产规模增长了 8.35%，两者合计使总资产增加了222875万元，增长幅度为 23.86%(2 )本期总资产的增长主要体现在流动资产的增长上，如果仅从这一

10、变化来看，该公司资但其增长主要体现在产流动性有所增强，尽管流动资产的各项目都有不同程度的增减变动,两个方面：一是存货的增长。存货本期增长485034801 元，增长幅度为47.75%，对总资 产的影响5.19%，这有助于形成现实的生产能力。存货是单位实物变动的市场价值。存货影响到企业生产经营过程中的高速过多说明企业的资金大量积压在持有的流动资产形态上, 运转，影响资金使用效率。若过少， 会影响流动资产进而影响流动比率，说明偿还短期债务的能力低，影响企业筹资能力，势必影响生产经营活动顺利开展。本期存货持有量，尚保持 在正常水平。二是预付款项的增加。预付款项本期增加 377999317元，增长幅度

11、为167.72%。对总资产的影响为4.05%，说明其他企业占用本企业过多的资金，同时也反映企业可能在扩大生产规模。(3)非流动资产的变动主要体现在以下方面:1.固定资产的增长。固定资产本期增加了689532850 元，增长幅度为25.71%，对总资产 的影响为7.38%，是非流动资产中对总资产变动影响最大的项目。固定资产的规模体现了 一个企业的生产能力，但仅仅根据固定资产净值的变动并不能得出企业生产能力上升或下降的结论。固定资产净值反映了企业在固定资产项目上占用的资金,其既受固定资产原值变动的影响，也受固定资产折旧的影响。 本企业概念固定资产净值的增加一方面是经营规模增长购置机器设备增加及部分

12、在建工程转入所致;另一方面，固定资产折旧使其价值减少， 但这种变化对公司生产能力不会有太大影响。总体看该公司的生产能力有所提高。2.递延所得税资产的增长。递延所得税资产本期增加了71277309元，增长幅度为26.13%，对总资产的影响为 0.76%3.是生产性物资的增长。生产性物资本期增加了62969094 元，增长幅度为44.29%，对总资产的影响为0.67 %，反映该企业的生产规模在扩大。二、从筹资或投资角度进行分析评价根据上表，可以对光明乳业的权益总额变动情况做出以下分析:该公司权益总额本期较上期增加 2228752608元，增长幅度为23.86%，说明光明乳业资产规模有较大幅度的增长

13、。进一步分析可以发现:(1 )负债本期增加了1629630950 元，增长的幅度为33.16%，使权益总额增加了 17.45% ；股东权益本期增加了599121658 元，增长的幅度为 13.54%，使权益总额增加了 6.42%，两者合计使该公司权益总额本期较上期增加了1629630950 元，增长的幅度为33.16%(2 )应付账款的增加。应付账款本期增长了61983140 元，增长的幅度为 44.95%，使权益总额增加了 6.64%。该项目的增长给公司带来了一定的偿债压力如果不能如期支付会给公司的信用带来不良影响。(3 )其他应付款的增加。其他应付款本期增长了 471453019元，增长的

14、幅度为45.46%，使权益总额增加了5.05%。其他应付款是指企业在商品交易业务以外发生的应付和暂收款项。指企业除应付票据、应付账款、应付工资、应付利润等以外的应付、暂收其他单位或个人的款项。该期其他应付款的增长幅度较大，占权益总额的比例较高。42901038 元增长的(4 )股东权益本期增加了 599121658 元，增长的幅度为13.54%，使权益总额增加了 6.42%。该公司股东权益的增加主要得益于本期盈利，因此，盈余公积增加了幅度为13.35%，使权益总额增加了 0.46% ;未分配利润增加了142711459元，增长的幅度为18.36%，使权益总额增加了1.53%.2013年与201

15、4年资产负债表水平分析单位：元项目2013 年2014 年变动情况对总额的影响变动额变动率流动资产：货币资金2,600,367,232,001,684,37-598,682,85-23.02%-5.18%394交易性金融资产18,537,9590-18,537,959)-100.00%-0.16%应收票据2,678,3075,563,4612,885,154107.72%0.02%应收账款1,386,392,941,695,027,44308,634,50722.26%2.67%18预付款项603,372,752396,767,016-206,605,73-34.24%-1.79%6其他应收款

16、79,125,09179,365,222240,1310.30%0.00%存货1,500,786,972,030,733,69529,946,71435.31%4.58%93其他流动资产219,829,683209,385,691-10,443,992-4.75%-0.09%流动资产合计6,411,090,946,418,526,917,435,9650.12%0.06%50非流动资产：可供出售金融资02,478,3742,478,3740.02%长期应收款1,223,939923,939-300,000)-24.51%0.00%长期股权投资18,719,30016,397,876-2,321

17、,424-12.40%-0.02%固定资产3,371,200,194,357,378,38986,178,18429.25%8.53%93在建工程672,880,766808,234,611135,353,84520.12%1.17%生产性生物资产205,140,803241,989,68036,848,87717.96%0.32%无形资产281,590,505312,395,87130,805,36610.94%0.27%商誉258,884,662245,996,250-12,888,412-4.98%-0.11%长期待摊费用3,286,5201,174,896-2,111,624-64.2

18、5%-0.02%递延所得税资产344,034,545372,682,68028,648,1358.33%0.25%其他非流动资产0104,965,671104,965,6710.91%非流动资产合计5,156,961,236,464,618,231,307,656,925.36%11.309192%资产总计11,568,052,112,883,145,11,315,092,911.37%11.37844157%流动负债：短期借款949,638,2001,813,994,215864,356,01591.02%7.47%以公允价值加量的040,724,77140,724,7710.35%金融负债

19、交易性金融负债4,036,7400-4,036,740-100.00%-0.03%应付账款1,998,690,182,053,400,5954,710,4172.74%0.47%18预收款项748,733,090506,196,840-242,536,25-32.39%-2.10%0应付职工薪酬183,033,041206,841,81223,808,77113.01%0.21%应交税费288,613,574275,308,472-13,305,102-4.61%-0.12%应付利息3,531,1674,032,610501,44314.20%0.00%其他应付款1,508,636,601,5

20、80,751,9072,115,3024.78%0.62%35一年内到期的非流263,143,1331,215,000-261,928,13-99.54%-2.26%动负债3流动负债合计5,948,055,726,482,466,22534,410,4948.98%4.62%93非流动负债：长期借款336,347,214858,503,081522,155,867155.24%4.51%长期应付款1,022,50065,782,61564,760,1156333.510.56%专项应付款6,677,119700,000-5,977,119-89.52%-0.05%递延收益0181,787,72

21、8181,787,7281.57%递延所得税负债97,777,84694,049,613-3,728,233-3.81%-0.03%其他非流动负债154,384,892280,000-154,104,89-99.82%-1.33%2非流动负债合计596,209,5711,201,103,03604,893,466101.46%5.23%7负债合计6,544,265,307,683,569,261,139,303,917.41%9.85%0060所有者权益（或股东权益）股本1,224,497,451,230,636,736,139,2800.50%0.05%99资本公积1,756,143,961

22、,771,264,2415,120,2770.86%0.13%41减：库存股064,760,11564,760,1150.56%其他综合收益0(32,906,914)-32,906,914-0.28%盈余公积364,268,748410,419,60646,150,85812.67%0.40%未分配利润920,122,9691,196,992,43276,869,46130.09%2.39%0外币报表折算差额13,079,7020-13,079,702-100.00%-0.11%归属于母公司所有4,278,112,844,511,645,98233,533,1455.46%2.02%者权益合计

23、27少数股东权益745,674,042687,929,894-57,744,148-7.74%-0.50%所有者权益合计5,023,786,885,199,575,88175,788,9973.50%1.52%41负债和所有者权益11,568,052,112,883,145,11,315,092,911.37%11.37总计844157%2014年与2015年资产负债表水平分析单位：元项目2014年12月1日2015年12月31日变动情况对总额的影响14与15的变动额14与15的变动率流动资产：货币资金2,001,684,373,319,519,681,317,835,365.84%10.23

24、9405%交易性金融资产04,805,5644,805,5640.04%应收票据5,563,461654,663-4,908,798-88.23%-0.04%应收账款1,695,027,441,629,289,98-65,737,461-3.88%-0.51%87预付款项396,767,016452,662,59155,895,57514.09%0.43%其他应收款79,365,222124,221,39144,856,16956.52%0.35%存货2,030,733,691,852,797,65-177,936,04-8.76%-1.38%312其他流动资产209,385,691170,7

25、41,394-38,644,297-18.46%-0.30%流动资产合计6,418,526,917,554,692,921,136,166,017.70%8.82%0515非流动资产：可供出售金融资2,478,3742,438,686-39,688-1.60%0.00%长期应收款923,939648,939-275,000-29.76%0.00%长期股权投资16,397,87666,958,19450,560,318308.33%0.39%固定资产4,357,378,385,364,453,471,007,075,023.11%7.82%3996在建工程808,234,611560,622,2

26、81-247,612,330-30.64%-1.92%生产性生物资产241,989,6801,019,288,649777,298,969321.21%6.03%无形资产312,395,871301,114,772-11,281,099-3.61%-0.09%商誉245,996,250231,603,991-14,392,259-5.85%-0.11%长期待摊费用1,174,8961,703,468528,57244.99%0.00%递延所得税资产372,682,680309,513,879-63,168,801-16.95%-0.49%其他非流动资产104,965,67133,773,149

27、-71,192,522-67.82%-0.55%非流动资产合计6,464,618,237,892,119,481,427,501,222.08%11.081756%资产总计12,883,145,115,446,812,42,563,667,219.90%19.90411271%流动负债：短期借款1,813,994,211,441,437,69-372,556,52-20.54%-2.89%523以公允价值加量40,724,77129,944,749-10,780,022-26.47%-0.08%的金融负债交易性金融负债0000.00%应付账款2,053,400,592,272,731,9621

28、9,331,36610.68%1.70%84预收款项506,196,840578,552,76972,355,92914.29%0.56%应付职工薪酬206,841,812203,625,703-3,216,109-1.55%-0.02%应交税费275,308,472206,947,016-68,361,456-24.83%-0.53%应付利息4,032,6103,699,208-333,402-8.27%0.00%其他应付款1,580,751,902,078,607,30497,855,40031.49%3.86%55一年内到期的非1,215,000254,321,246253,106,24

29、620831.791.96%流动负债%流动负债合计6,482,466,227,069,867,65587,401,4299.06%4.56%32非流动负债：长期借款858,503,0811,088,750,47230,247,39626.82%1.79%7长期应付款65,782,61539,878,569-25,904,046-39.38%-0.20%专项应付款700,0002,122,8111,422,811203.26%0.01%递延收益181,787,728284,007,911102,220,18356.23%0.79%递延所得税负债94,049,61395,139,8901,090,

30、2771.16%0.01%其他非流动负债280,0001,603,898,051,603,618,0572720.7312.45454%非流动负债合计1,201,103,033,113,797,711,912,694,6159.24%14.857275%负债合计7,683,569,2610,183,665,32,500,096,132.54%19.4106404%所有者权益（或股东权益）股本1,230,636,731,230,636,7300.00%0.00%99资本公积1,771,264,241,769,027,82-2,236,421-0.13%-0.02%10减：库存股64,760,11

31、564,760,11500.00%0.00%其他综合收益(32,906,914)(81,846,929)-48,940,015148.72%-0.38%盈余公积410,419,606425,537,46715,117,8613.68%0.12%未分配利润1,196,992,431,259,972,2462,979,8195.26%0.49%09外币报表折算差0000.00%额归属于母公司所4,511,645,984,538,567,2326,921,2440.60%0.21%有者权益合计71少数股东权益687,929,894724,579,81736,649,9235.33%0.28%所有者权

32、益合计5,199,575,885,263,147,0463,571,1671.22%0.49%18负债和所有者权12,883,145,115,446,812,42,563,667,219.90%19.90益总计411271%1、( 1 ) 2013-2014年总资产本期增加 1315092957 元，增长幅度为 11.37%，说明茅台743596 ，增长幅度0.12%，使总资产规模增长了0.06%。非流动资产本期增加了1307656992 ，增长幅度25.36%，使总资产规模增长了11.30%，两者合计使总资产增加了1315092957 增股份本年资产规模有较大幅度的增长。进一步分析可以发现，

33、流动资产本期增加长幅度11.37% 。(2 )该公司权益总额本期较上期增加1315092957 元，增长幅度为11.37%，说明光明乳业资产规模有较大幅度的增长。进一步分析可以发现，流动负债本期增加534410494 ，增长幅度8.98%，使权益总额增长了4.62 %。非流动负债本期增加了604893466，增长幅度101.46%，使权益总额增长了5.23%。1.52%。(3 )股东权益本期增加了15788997元，增长的幅度为3.50%，使权益总额增加了该公司股东权益的增加主要得益于本期盈利，因此，盈余公积增加了46150858元增长的增长的幅说明茅台幅度为12.67%，使权益总额增加了 0

34、.40% ;未分配利润增加了276869461元,度为30.09%，使权益总额增加了2.39%.2、( 1)2014-2015 年总资产本期增加 2563667271元，增长幅度为 19.90%，股份本年资产规模有较大幅度的增长。进一步分析可以发现，流动资产本期增加1136166105 ，增长幅度17.70%，使总资产规模增长了8.82%。非流动资产本期增加了1427501256 ，增长幅度22.08%，使总资产规模增长了11.08%两者合计使总资产增加了2563667271 增长幅度 19.90%。(2 )该公司权益总额本期较上期增加2563667271 元，增长幅度为19.90%，说明光明

35、乳业资产规模有较大幅度的增长。进一步分析可以发现，流动负债本期增加587401429 ，增长幅度9.06%，使权益总额增长了4.56%。非流动负债本期增加了1912694675 ，增长幅度159.24%，使权益总额增长了14.85%。总资产的增长主要体现在流动资产的增长上，若仅从这一变化来看,该公司资产的流动性有所增强。(3 )股东权益本期增加了 63571167元，增长的幅度为1.22%，使权益总额增加了 0.49% 。该公司股东权益的增加主要得益于本期盈利，因此，盈余公积增加了15117861元增长的幅度为3.68%，使权益总额增加了0.12% ;未分配利润增加了 62979819元，增长

36、的幅度为5.26%，使权益总额增加了0.49%.光明乳业的资产负债表垂直分析2012年与2013年资产负债表垂直分析单位：元资产负债表分析2012 年2013 年12 年变13年变动变动情况动率率流动资产：货币资金2,339,384,02,600,367,2325.05%22.48%-2.57%383交易性金融资产11,781,41618,537,9590.13%0.16%0.03%应收票据1,511,2782,678,3070.02%0.02%0.01%应收账款1,310,077,0821,386,392,94114.03%11.98%-2.04%预付款项225,373,43603,372,

37、7522.41%5.22%2.80%5其他应收款58,358,60979,125,0910.62%0.68%0.06%存货1,015,752,11,500,786,9710.88%12.97%2.10%789其他流动资产0219,829,6830.00%1.90%1.90%流动资产合计4,962,238,06,411,090,9453.13%55.42%2.29%365非流动资产：可供出售金融资000.00%0.00%0.00%长期应收款1,523,9391,223,9390.02%0.01%-0.01%长期股权投资30,213,98018,719,3000.32%0.16%-0.16%固定资

38、产2,681,667,33,371,200,1928.71%29.14%0.43%499在建工程709,740,36672,880,7667.60%5.82%-1.78%9生产性生物资产142,171,70205,140,8031.52%1.77%0.25%9无形资产280,102,29281,590,5053.00%2.43%-0.56%6商誉258,884,662258,884,6622.77%2.24%-0.53%长期待摊费用03,286,5200.00%0.03%0.03%递延所得税资产272,757,23344,034,5452.92%2.97%0.05%6其他非流动资产000.00

39、%0.00%0.00%非流动资产合计4,377,061,55,156,961,2346.87%44.58%-2.29%409资产总计9,339,299,511,568,052,1100.00%100.00%0.00%7684流动负债：短期借款793,362,97949,638,2008.49%8.21%-0.29%6以公允价值加量000.00%0.00%0.00%的金融负债交易性金融负债17,340,1574,036,7400.19%0.03%-0.15%应付账款1,378,858,71,998,690,1814.76%17.28%2.51%711预收款项335,197,90748,733,0

40、903.59%6.47%2.88%4应付职工薪酬152,544,59183,033,0411.63%1.58%-0.05%1应交税费111,924,43288,613,5741.20%2.49%1.30%9应付利息3,020,2713,531,1670.03%0.03%0.00%其他应付款1,037,183,51,508,636,6011.11%13.04%1.94%843一年内到期的非130,380,21263,143,1331.40%2.27%0.88%流动负债6流动负债合计3,959,812,95,948,055,7242.40%51.42%9.02%099非流动负债：长期借款708,4

41、89,28336,347,2147.59%2.91%-4.68%0长期应付款10,671,7381,022,5000.11%0.01%-0.11%专项应付款25,732,0016,677,1190.28%0.06%-0.22%递延收益000.00%0.00%0.00%递延所得税负债64,061,75097,777,8460.69%0.85%0.16%其他非流动负债145,866,67154,384,8921.56%1.33%-0.23%2非流动负债合计954,821,441596,209,57110.22%5.15%-5.07%负债合计4,914,634,36,544,265,3052.62%

42、56.57%3.95%500所有者权益（或股东权益）股本1,225,038,61,224,497,4513.12%10.59%-2.53%579资本公积1,676,837,01,756,143,9617.95%15.18%-2.77%884减：库存股000.00%0.00%0.00%其他综合收益000.00%0.00%0.00%盈余公积321,367,71364,268,7483.44%3.15%-0.29%0未分配利润777,411,11920,122,9698.32%7.95%-0.37%0外币报表折算差13,190,93013,079,7020.14%0.11%-0.03%额归属于母公司

43、所4,013,845,44,278,112,8442.98%36.98%-6.00%有者权益合计952少数股东权益410,819,731745,674,0424.40%6.45%2.05%所有者权益合计4,424,665,25,023,786,8847.38%43.43%-3.95%264负债和所有者权9,339,299,511,568,052,1100.00%100.00%0.00%益总计76842013-2014年光明乳业的资产负债表垂直分析2013 年2014 年13年变动率14年变动率变动情况流动资产：货币资金2,600,367,22,001,684,322.48%15.54%-6.94%3379交易性金融资产18,537,95900.16%0.00%-0.16%应收票据2,678,3075,563,4610.02%0.04%0.02%应收账款1,386,392,91,695,027,411.98%13.16%1.17%4148预付款项603,372,752396,767,0165.22%3.08%-2.14%其他应收款79,125,09179,365,2220.68%0.62%-0.07%存货1,500,786,92,030,733,612.97%15.76%2.79%7993其他流